Indialantic, North Carolina Property Taxes
The median property tax rate in Indialantic, NC is 0.40%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With a median home value of $325,200 in Indialantic, the typical annual property tax bill is $1,301, well below the national median of $2,690. Property taxes in Indialantic are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Indialantic's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in the heart of Indialantic or another part of the city, gaining insight into the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Indialantic, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,301
Ownwell’s Indialantic Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Indialantic with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Indialantic to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Indialantic, North Carolina
Property taxes in Indialantic, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Indialantic is 0.73%, higher than both the North Carolina state median of 0.70% and the U.S. national median of 0.99%. Local government entities within Indialantic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Indialantic estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Indialantic's effective property tax rate to other counties in North Carolina and the national median. For comparison, the highest median property tax rate in Avery County is 0.80%, while the lowest median tax rate is 0.60%. Understanding how these cities compare with Indialantic provides valuable insights into the varying tax landscape across Avery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Indialantic Tax Rate
0.40%
Average Avery County Tax Rate
0.40%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Indialantic, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32903 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Indialantic, North Carolina
In Indialantic, North Carolina, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Avery County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Indialantic, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Indialantic helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, in the zip code 32903, the highest median tax bill is $1301, reflecting the importance of understanding these values.
Property Tax Assessment Values Across Indialantic, North Carolina
Source: Ownwell
$1,500
$3,074,950
$6,148,400
Average Indialantic Assessed Value
$325,200
Average Avery County Assessed Value
$135,500
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Indialantic, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32903 | $125,040 | $200,100 | $325,200 | $333,650 | $338,720 |
Source: Ownwell
Property Tax Bills Across Indialantic, North Carolina
In Indialantic, property tax bills are calculated based on the assessed value of your home, which is determined by the Avery County tax assessor. The assessed value is a percentage of the market value of the property, and this value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $325,200, homeowners can expect to pay a property tax bill that falls between the 25th percentile at $800 and the 75th percentile at $1,335. The highest median tax bill in the area is $1,301, which is considerably lower than the national median property tax rate of 0.99%. Factors such as property improvements, location, and market conditions can influence the assessed value, thereby affecting the tax bill. For homeowners, understanding these factors is crucial as they can significantly impact annual expenses. Keeping up with local property tax trends and reassessment schedules can help homeowners anticipate changes and manage their finances more effectively.
Average Indialantic Tax Bill
$1,301
Average Avery County Tax Bill
$540
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Indialantic, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 32903 | $500 | $800 | $1,301 | $1,335 | $1,355 |
Source: Ownwell